Juventus, Lazio jump around 8% after EU top court ruling shakes soccer sector
21/12/2023 10:16
** Shares in Italy's football team Juventus JUVE.MI rise as
much as 8.8% after the European Court of Justice ruled that
soccer bodies UEFA and FIFA had abused their dominant position
by forbidding clubs outright to compete in a European 'Super
League'
** Juventus was among European soccer teams that pursued the
creation of the European 'Super League', a private football
league announced 2021. The attempt swiftly collapsed amid
widespread protests by angry fans and sanctions threat by UEFA
** A Milan-based trader says the ruling is behind the share
jump as teams will be more free, on paper, to set up more
lucrative private competitions
** However, the trader says it will take time to better
understand the effect of the ruling on the broader soccer sector
** Shares in Lazio LAZI.MI , the only other Italian
football team listed Milan, rose as much as 7.9% and were
temporarily halted before resuming trading
** Lazio was not included in the European 'Super League'
project
** At 1013 GMT Juventus stock is up 5.8%, outperforming
Italy's blue-chip index .FTMIB , which falls 0.4%
(Reporting by Alberto Chiumento and Claudia Cristoferi)
((Alberto.Chiumento@thomsonreuters.com;))